SPH selling sgCarMart to Toyota consortium for S$150 million
Add BT as a preferred source
ONLINE automotive marketplace sgCarMart, owned by Singapore Press Holdings (SPH), is being sold to a Toyota consortium in an all-cash deal, confirming an earlier report by The Business Times.
The proposed transaction values sgCarMart at S$150 million, SPH and Toyota Financial Services Singapore said in a joint press release on Friday evening (Feb 25).
The consortium is led by Toyota Financial Services Singapore, which owns 76 per cent of the consortium, with the remaining 24 per cent owned by Toyota Tsusho Asia Pacific and Phillip Binter.
TRENDING NOW
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
